Intuitive Machines (NASDAQ:LUNR) Sees Unusually-High Trading Volume – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares saw unusually-strong trading volume on Monday . Approximately 4,238,200 shares were traded during mid-day trading, a decline of 57% from the previous session’s volume of 9,827,564 shares.The stock last traded at $14.98 and had previously closed at $15.12.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LUNR shares. Cantor Fitzgerald lifted their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Benchmark raised their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. B. Riley upped their target price on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Canaccord Genuity Group raised their price target on Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Roth Mkm restated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Stock Performance

The stock’s 50-day moving average is $9.11 and its 200-day moving average is $6.10.

Insider Transactions at Intuitive Machines

In related news, Director Michael Blitzer sold 662,673 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $8.19, for a total value of $5,427,291.87. Following the transaction, the director now directly owns 1,062,865 shares of the company’s stock, valued at approximately $8,704,864.35. This trade represents a 38.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $8.31, for a total value of $8,375,881.68. Following the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $29,041,522.08. This trade represents a 22.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,763,571 shares of company stock worth $38,671,383 over the last quarter. 73.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of large investors have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new stake in Intuitive Machines during the 2nd quarter worth approximately $536,000. Vanguard Group Inc. grew its stake in Intuitive Machines by 250.0% during the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after buying an additional 429,531 shares during the period. Wedbush Securities Inc. acquired a new stake in shares of Intuitive Machines in the second quarter worth $35,000. XTX Topco Ltd purchased a new position in shares of Intuitive Machines in the 2nd quarter valued at $164,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Intuitive Machines in the 2nd quarter valued at $272,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Machines Company Profile

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.